Will The Islamic State Financially Ruin The United States?
The Islamic State has supposedly started “minting its own gold coins and other currency” in an effort to drive the United States to financial ruin. They released an hour-long video this past Saturday, titled “The Rise of the Khilafah and the Return of the Gold Dinar,” where they explain the purpose of this new currency. That purpose is to harm the U.S. economy.
The new coins will supposedly be minted using precious metals that are “made from measures of wealth that Allah created.” The narrator states that as the new currency “surges into the financial sphere” it will cast the “fraudulent dollar note” into ruins. The narrator also calls gold the “only true measure of wealth,” which is why they plan on minting the coins using mainly gold, silver, and copper.
Financial experts have said it’s extremely unlikely that the new currency would actually be used globally. “It’s like blood diamonds,” David Phillips, a former adviser at the UN told the New York Times last year. “No credible financial institution is going to take this.“
